Willis Foreclosure Lawyer, Texas, page 3

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LEGAL TERMS

WORDS OF PROCREATION

Language used to leave property to a person and his or her descendants, which typically take the form 'to A, and the heirs of his body,' where A is the person r... (more...)
Language used to leave property to a person and his or her descendants, which typically take the form 'to A, and the heirs of his body,' where A is the person receiving the property.

QUANTUM MERUIT

The reasonable value of services provided, which a winning party may be able to recover from an opponent who broke a contract.

BOND

(1) A written agreement purchased from a bonding company that guarantees a person will properly carry out a specific act, such as managing funds, showing up in ... (more...)
(1) A written agreement purchased from a bonding company that guarantees a person will properly carry out a specific act, such as managing funds, showing up in court, providing good title to a piece of real estate or completing a construction project. If the person who purchased the bond fails at his or her task, the bonding company will pay the aggrieved party an amount up to the value of the bond. (2) An interest-bearing document issued by a government or company as evidence of a debt. A bond provides pre-determined payments at a set date to the bond holder. Bonds may be 'registered' bonds, which provide payment to the bond holder whose name is recorded with the issuer and appears on the bond certificate, or 'bearer' bonds, which provide payments to whomever holds the bond in-hand.

MULTIPLE LISTING SERVICE (MLS)

A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now b... (more...)
A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now be obtained by the public through websites like www.realtor.com.

USUFRUCT

The right to use property -- or income from property -- that is owned by another.

HOMESTEAD DECLARATION

A form filed with the county recorder's office to put on record your right to a homestead exemption. In most states, the homestead exemption is automatic--that ... (more...)
A form filed with the county recorder's office to put on record your right to a homestead exemption. In most states, the homestead exemption is automatic--that is, you are not required to record a homestead declaration in order to claim the homestead exemption. A few states do require such a recording, however.

INCAPACITY

(1) A lack of physical or mental abilities that results in a person's inability to manage his or her own personal care, property or finances. (2) A lack of abil... (more...)
(1) A lack of physical or mental abilities that results in a person's inability to manage his or her own personal care, property or finances. (2) A lack of ability to understand one's actions when making a will or other legal document. (3) The inability of an injured worker to perform his or her job. This may qualify the worker for disability benefits or workers' compensation.

EASEMENT

A right to use another person's real estate for a specific purpose. The most common type of easement is the right to travel over another person's land, known as... (more...)
A right to use another person's real estate for a specific purpose. The most common type of easement is the right to travel over another person's land, known as a right of way. In addition, property owners commonly grant easements for the placement of utility poles, utility trenches, water lines or sewer lines. The owner of property that is subject to an easement is said to be 'burdened' with the easement, because he or she is not allowed to interfere with its use. For example, if the deed to John's property permits Sue to travel across John's main road to reach her own home, John cannot do anything to block the road. On the other hand, Sue cannot do anything that exceeds the scope of her easement, such as widening the roadway.

FAILURE OF CONSIDERATION

The refusal or inability of a contracting party to perform its side of a bargain.

SAMPLE LEGAL CASES

Sauceda v. GMAC Mortg. Corp.

... In two issues, the Saucedas contend that GMAC waived its objections to their affidavits and that the trial court erred in granting summary judgment on their wrongful foreclosure and breach of contract claims. We reverse and remand. ... 1989)). B. Wrongful Foreclosure. ...

Williams v. Bank of New York Mellon

... The deed of trust also stated that if appellant did not surrender possession of the property after it was sold, he "shall be a tenant at sufferance and may be removed by writ of possession or other court proceeding." In 2009, the property was posted for foreclosure and was sold to ...

EMC Mortg. Corp. v. Jones

... By December 2002, Washington Mutual had scheduled a foreclosure sale for May 6, 2003. ... Because of the potential loan modification, Washington Mutual directed that the May foreclosure sale be postponed until June 3, 2003. ...

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